The Sackler family, owners of Purdue Pharma, have reached a monumental $7.4 billion settlement over lawsuits linked to the opioid epidemic. This agreement, still subject to court approval, stipulates that the Sacklers will relinquish their control of Purdue, transforming it into a new entity governed by those impacted. Funds from the settlement aim to assist victims and tackle the nationwide opioid crisis, which has seen a surge in addiction and fatalities, particularly from fentanyl, since the introduction of OxyContin in 1996.
The Sackler family, which owns Purdue Pharma, has agreed to pay up to $7.4bn in a settlement related to the opioid epidemic, relinquishing control of the company.
This settlement, among the largest of its kind, involves the Sackler family and provides funds to victims and communities affected by the opioid crisis.
William Tong, the Connecticut attorney general, stated that the settlement forces Purdue Pharma and the Sackler family to pay for their role in igniting a public health crisis.
The opioid epidemic, exacerbated by OxyContin and its marketing strategies, has led to hundreds of thousands of deaths in the US, particularly due to illicit fentanyl.
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